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Keri & Nick Consulting partner equity accounts reflected the following balances on August 31, 2020 Keri. Capital 550.000 Nick Kalpakan. Capcal 201,000 Lee and Kalpakan

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Keri & Nick Consulting partner equity accounts reflected the following balances on August 31, 2020 Keri. Capital 550.000 Nick Kalpakan. Capcal 201,000 Lee and Kalpakan share profisses in 2:3 ratio respectively on September 1, 2020 Lam Court is admitted to the partners with cash investment of $111.000 Required: Prepare the journal entry to record the admission of Liam under each of the following unrelated assumptions, where he is given 1. A 30% interest in equity 2. A 20% interest in equity 1. A 50% interest in equity

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